Two-Unit Duplex with
For Sale
$655,000
352 Lake Ave., Worcester, MA 01604
Residential Income, Worcester, MA
Property Size2,296 SF
Lot Size0.75 Acres
Price / SF$285.28
Days on Market8
Property Features for 352 Lake Ave.
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RL-7
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Parking
6
Directions
Belmont St. right on Lake Ave.
Standard status
Active
APN
1798200
Size
2,296 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8943
Amenities
front porch
central air conditioning
Building Details
Year built
1988
Floors in Building
3
Number of units
2
Listing Agency:
RE/MAX Vision · RE/MAX International
(508) 595-9900
Listed By:
Jeff Burk · License #9035530
(508) 826-3301
Added: Sep 28
Changed: Oct 2
Last Checked: Oct 5 at 1:06PM
MLS# 73583524
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1988, this 2,296-square-foot duplex contains a primary residence and a separate-entry second unit. The main home has an open living and dining area, an eat-in kitchen with a center island, two upstairs bedrooms, and a full bath. The additional unit includes a living room, kitchenette, bedroom, and full bath. A full-length front porch and detached two-car garage round out the property.
Recent improvements include a furnace, central air conditioning, and a basement system with a sump pump. The property occupies 0.75 acres and is zoned RL-7. Nearby destinations include UMass Medical, major routes, shopping, and dining.
Recent improvements include a furnace, central air conditioning, and a basement system with a sump pump. The property occupies 0.75 acres and is zoned RL-7. Nearby destinations include UMass Medical, major routes, shopping, and dining.
Key Highlights
- Two‑family property with a separate‑entry second unit
- 2,296 square feet on 0.75 acres
- Detached two‑car garage and full‑length front porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,717
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$674,340
$674.3K
Cap Rate 7%
$481,671
$481.7K
Cap Rate 9%
$374,633
$374.6K
Market Conditions
NOI Build-Up for 2,296 SF
Gross rent
$51.0K $22.20/SF
− Vacancy
−$2.8K −$1.22/SF
EGI
$48.2K $20.98/SF
− OpEx
−$14.5K −$6.29/SF
NOI
$33.7K $14.69/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$674,340
Cap Rate 7%
$481,671
Cap Rate 9%
$374,633
Alternative Uses
Best Use
Multifamily LT 5
$481.7K
$421.5K – $562.0K
NOI $33,717 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$442.2K
$386.9K – $515.9K
NOI $30,951 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$766.4K
$670.6K – $894.1K
NOI $53,645 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - A separate-entry residence adds independent living space alongside the primary home.
Where is this duplex located?
The property is located at 352 Lake Ave. Worcester, MA.
What is the asking price?
The asking price for this property is $655,000.
What are key features of this property?
This property features: Two‑family property with a separate‑entry second unit; 2,296 square feet on 0.75 acres; Detached two‑car garage and full‑length front porch
